McCarthy co-presented the seminar with Jonathan Landesman, Esquire, partner and Co-Chair of the Labor & Employment Group at Cohen Seglias Pallas Greenhall & Furman PC. McCarthy and Landesman discussed the financial impact of fraud globally and in the construction industry, most common types of fraud schemes, unethical and fraudulent behaviors of perpetrators, how to detect fraud, the importance of implementing anti-fraud controls, and what contractors can do to protect their companies. Participants left the seminar with a comprehensive plan to address fraud in their organizations, guidelines on how to implement anti-fraud controls, tips on how to conduct a fraud investigation from an accounting and legal perspective, and best practices for writing and instituting an effective fraud prevention policy.

“The theme of this year’s conference, ‘Cyber Insecurity and Fraud Protection in 2017,’ was timely in light of all of attention focused on cybersecurity and major data breaches recently,” says McCarthy. “Every company needs to be diligent about implementing data security protection and anti-fraud controls. When taken as a proportion of the global Gross Domestic Product (GDP) of $75.212 trillion, the cost of fraud worldwide ranges from $3.76 trillion to $4.39 trillion. Companies without anti-fraud controls in place typically lose twice as much as those with controls.”

McCarthy specializes in construction accounting. He is well-respected by sureties and bankers for the high-quality of his work and profound understanding of the construction industry. McCarthy helps clients by providing them with the insight needed to grow their businesses.

A member of the Pennsylvania Institute of Certified Public Accountants (PICPA), McCarthy serves on its Construction Industry Conference Committee. He is also a member of the American Institute of Certified Public Accountants (AICPA), Construction Financial Management yuyky Association (CFMA), Associated Builders and Contractors (ABC), Construction Association of Eastern Pennsylvania (CAEP), and the Utility Transportation Contractors Association (UTCA). McCarthy is frequently published on tax, audit, finance, business, and management topics in construction industry publications, including Building Profits (CFMA), Managing Your Business (Construction Executive) and Utility and Transportation Contractor (UTCA).

McCarthy & Company, P.C. is an accounting and advisory firm that prides itself on providing clients with a high-level of personalized service. Since 1967, the firm’s priority has been to ensure that clients continually strengthen their financial position. Now in its 50th year, McCarthy & Company was included on the Philadelphia Business Journal’s 2017 list of Top 30 Accounting Firms. More information is available at www.MCC-CPAs.com or by calling 610.828.1900.

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